Digital Banking Evolution in India: Bridging Convenience, Security, And Financial Inclusion

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Kartikey Koti

Abstract

This article covers the Indian banking industry's revolutionary journey across four decades, divided into ten-year time periods beginning in 1980. The examination is on the evolution of technical and operational advances that have influenced the industry. The 1980s saw the implementation of MICR standards for checks and encoders, which improved cheque processing efficiency. In the 1990s, Automated Information Management Systems (AIMS), electronic transactions, branch connection, and core banking solutions emerged, all of which increased service delivery and operational efficiency. Immediate Payment Service (IMPS), Real-Time Gross Settlement (RTGS), internet banking, and telebanking were examples of fast innovation in the 2000s, indicating a trend towards digital banking. The post-2011 age is distinguished by the use of biometrics, mobile banking, and cheque truncation systems, which represent secure, consumer-centric, and technological improvements.

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How to Cite
Kartikey Koti. (2025). Digital Banking Evolution in India: Bridging Convenience, Security, And Financial Inclusion. European Economic Letters (EEL), 15(1), 887–898. Retrieved from https://www.eelet.org.uk/index.php/journal/article/view/2465
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